Little stories are scattered througout the media suggesting inquiries into the methods used to determine the pre-IPO valuation of Facebook. But the real surprise is that nobody is outraged over the big cash-outs that investors and former founders are taking.
Wall Street bankers said Mark Zuckerberg wasn't going to show up on Monday, the first leg of the "road show," or publicity campaign to make sure the company he founded is worth close to the estimated $100 billion he and his bankers are looking for.
While the latest valuations seem high for a company that was started just seven years ago by a Harvard undergrad in his dorm room, they don't even begin to touch the potential valuation that Facebook might attain in the very near future.
I don't like Facebook, and I don't trust Facebook. You don't even need an account to be punked by Facebook. Facebook doesn't know who is real and who isn't real. Many people may not even be aware there is an impostor profile of them on Facebook.
Both Facebook and Groupon became successes because they are web based networks that required few management skills, minimum capital to start, and there were no barriers to entry. That is also their biggest problem.